Zepz Secures $267M in Series F Funding

Zepz, the international money transfer service group, has just bagged an impressive $267 million in its latest Series F equity round, led by venture capital powerhouse Accel.

This round saw support from existing backers like Leapfrog and TCV, while the International Financial Corporation (IFC) of the World Bank Group threw in a potential $20 million investment for good measure.

Not a bad haul for a company that’s already making waves in fintech.

For those unfamiliar with Zepz, the company powers cross-border payment brands Sendwave and formerly WorldRemit (rebranded as Zepz), allowing people to send money to loved ones around the world.

And with this fresh influx of capital, the group plans to fuel its entry into new markets and bolster products like the upcoming Zepz Wallet.

At the helm of this expanding fintech giant is Mark Lenhard, who’s been steering the ship since 2022.

With an estimated net worth that’s probably in the neighborhood of a few commas (though he’d likely be too modest to confirm), Lenhard emphasizes that this funding will allow Zepz to double down on growth and innovation—two things no one in fintech can afford to ignore.

Zepz has already seen considerable success, with operations spanning over 40 send countries and 90 receive countries, reaching full-year profitability in 2022.

Oh, and let’s not forget the $292 million Series E round they raised back in 2021 at a valuation of $5 billion.

No big deal, right?

With this latest cash injection of $267 million, it seems like Zepz is well on its way to solidifying its position as a major player in the global payments game.

Keep an eye out—this company’s growth might just move faster than the money transfers it facilitates.